Beaware of Dwarka expressway scam


GURGAON: Within weeks of the HUDA awarding a contract for the construction of a portion of the Dwarka expressway, real estate developers seem to have jumped on to the profit-making bandwagon.

The developers, who have land banks and are coming up with new residential and commercial projects on this stretch, have started sending bulk messages claiming that the Dwarka expressway could be the next Delhi-Gurgaon expressway.


Realtors have kicked-off promotional campaigns despite a lack of clarity on the project completion date. Out of the 18km of this corridor, which falls in Gurgaon, work for only 12.5km has been awarded to a private firm. The rest 5.5km is yet to be awarded because this fragmented portion is under litigation.

To sell their properties, which initially had very few takers, developers are luring perspective buyers through SMSes and emails.


One such SMS reads: "History repeats itself... after NH-8 (expressway), here's another chance to invest on Dwarka expressway. Tender awarded. We offer 3/4 BHK (soft launch)."


Sources in the government said that despite a crucial portion of the expressway, that will connect Dwarka with NH-8 near Kherki Dhaula, caught in litigations, HUDA went ahead with the tender because of "tremendous pressure" from real estate lobbyists. "You can't delay connectivity beyond a limit. We are trying to find an amicable solution by talking to people who have taken the matter to court," said a senior government official.


Meanwhile, potential buyers seem to be confused about the future of several sectors and housing colonies that are being developed along the expressway. "The developers have been claiming that it's safe to invest here. But for someone like me it's a big investment. It's a major risk since I don't even know whether the road will be a reality within the next few years or not," said Deepak Sondhi, who plans to buy a property in this area.


Although the expressway, also known as NPR, was planned as a 150 meters road, the initial development would be up to a width of 42 meters’, with 25 meters’ being surfaced and 17 meters’ being the dividers.


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  • Dear Mr. ,
    Is there any specific reason that you posted a 5 months old news article from TOI ?

    Regards,
    Rohit.

    Originally Posted by Ashish_Leo
    Beaware of Dwarka expressway scam


    GURGAON: Within weeks of the HUDA awarding a contract for the construction of a portion of the Dwarka expressway, real estate developers seem to have jumped on to the profit-making bandwagon.

    The developers, who have land banks and are coming up with new residential and commercial projects on this stretch, have started sending bulk messages claiming that the Dwarka expressway could be the next Delhi-Gurgaon expressway.

    Realtors have kicked-off promotional campaigns despite a lack of clarity on the project completion date. Out of the 18km of this corridor, which falls in Gurgaon, work for only 12.5km has been awarded to a private firm. The rest 5.5km is yet to be awarded because this fragmented portion is under litigation.
    To sell their properties, which initially had very few takers, developers are luring perspective buyers through SMSes and emails.

    One such SMS reads: "History repeats itself... after NH-8 (expressway), here's another chance to invest on Dwarka expressway. Tender awarded. We offer 3/4 BHK (soft launch)."

    Sources in the government said that despite a crucial portion of the expressway, that will connect Dwarka with NH-8 near Kherki Dhaula, caught in litigations, HUDA went ahead with the tender because of "tremendous pressure" from real estate lobbyists. "You can't delay connectivity beyond a limit. We are trying to find an amicable solution by talking to people who have taken the matter to court," said a senior government official.

    Meanwhile, potential buyers seem to be confused about the future of several sectors and housing colonies that are being developed along the expressway. "The developers have been claiming that it's safe to invest here. But for someone like me it's a big investment. It's a major risk since I don't even know whether the road will be a reality within the next few years or not," said Deepak Sondhi, who plans to buy a property in this area.

    Although the expressway, also known as NPR, was planned as a 150 meters road, the initial development would be up to a width of 42 meters’, with 25 meters’ being surfaced and 17 meters’ being the dividers.

    CommentQuote
  • Originally Posted by rohit30_in
    Dear Mr. ,
    Is there any specific reason that you posted a 5 months old news article from TOI ?

    Regards,
    Rohit.


    I searched the forum. Didn't got anything relevant about this topic, so posted the same.
    CommentQuote
  • But again its useless

    Newspaper have all paid articles

    The same Newspaper published some articles praising NPR a few days later
    of for more details Check HT Coverage on whole Gurgaon a few Weeks back
    CommentQuote
  • The threads of landmark, Era, Indiabulls on dwarka expressway have detailed discussion on this topic.

    Also, the ToI's last weekly RE supplement was all praise for Dwarka expressway.. so much for authenticity of newspapers.

    and yes, the news is old to the extent that it stinks :-)
    CommentQuote
  • Dwarka realty hub also in legal tangle

    Does it really stinks now....LOLZZZ....Its times of india again....
    ePaper Lite - Times of India Publications

    One-Third Of E-Way Caught In Litigation

    Tanushree Roy Chowdhury TNN

    Gurgaon: The Noida land row may have triggered panic among buyers,driving many to seek judicial reprieve,but realtors are not dissuaded.Builders have shifted focus to the stretch connecting Dwarka with Manesar.And eight out of 10SMSs that choke our inbox every day,promise a dream home on the Dwarka e-way (also known as Northern Peripheral (NPR) Expressway ).But this area,too,has its own share of problems.
    One-third of this 18-km stretch is under litigation,which is why construction work has not even begun on this 5.5km stretch.This Rs 44-crore project was awarded to India Bulls,but it seems unlikely that the March 31,2012 deadline for completion of projects will be met.
    Only 12.5km of this 150-metre wide road is free of litigation and its being built as a six-lane expressway.
    I understand its not possible to develop anything without land,but why push the petitioners against the wall to sell their land at 10-15 % of market value The state came up with the plan to build the NPR expressway in 2006.We are almost at the end of 2011.If the government was pro-development,they would have purchased our land at market price and completed the project by now.Instead,they involved builders,who derived maximum gains by conveniently buying land all around expressway, said Rohit Gulati,a petitioner.He was forced to sell 2 acres for Rs 60 lakh per acre a pittance when compared to Rs 4 crore per acre,the current value of such plots in the area.
    Now,the matter is being heard at the Punjab and Haryana high court.Shailendra Jain,the petitioners counsel,alleged that the state has shifted the road alignment to benefit the builders.After notifying one alignment in the draft plan,the government changed the alignment in the final plan, he alleged.
    Nevertheless,experts have talked about a shift in the realty market.Noida Extension is no longer the focal point of realty development.Property developers are moving to other areas in the NCR.
    Unlike Noida where those affected are mainly end users,who purchased property due to affordability,in Gurgaon,majority buyers are investors.This is ascribed to the wide difference in realty prices in both the areas,which is contributed by the different density norms in Haryana and UP.
    Haryana has put a cap of 55 apartments in an acre;UP has allowed construction of more flats.Also,compared to UPs floor area ratio (FAR) of three,Haryana has an FAR of 1.75.Respective density,FAR and development norms of Gurgaon compared with Noida are unable to throw up necessary supply of affordable homes, said Ajay Rakheja,director (transactions),Colliers India Ltd,a property consultancy firm.
    Santosh Kumar,CEO (Operations ),Jones Lang La-Salle,India,said: While there will definitely be a greater demand for properties in Gurgaon,the realty market here does not have appropriate pricing.
    Real estate analyst Sonia Vaid said: Buyers need to be watchful of being exploited by fly-by-night developers,who seize every opportunity to lure customers by offering cheap prices.
    Attachments:
    CommentQuote
  • Investors in Dwarka Expressway, doesn't want to come out of the sweet dreams shown to them by the builders.
    People have neglected to comment and discuss on this TOI article published yesterday.
    CommentQuote
  • Things mentioned in this article is nothing new, this is something which every body investing on e way is aware off....still we strongly believe that it will get sorted out soon..and will give huge returns to the investors.
    CommentQuote
  • Originally Posted by Ashish_Leo
    Investors in Dwarka Expressway, doesn't want to come out of the sweet dreams shown to them by the builders.
    People have neglected to comment and discuss on this TOI article published yesterday.


    Pl also note that:

    1. Tender is already awarded for dway
    2. Tender for the sector roads 99-115 is already out and will be awarded soon.
    3. Builders like godrej, ATS, Indiabull, Raheja, Chintel, Sobha, Emmar(?) have launched projects or about to launch in coming months.
    4. It is known fact that 5.5 Km is under litigation and there is not much development on delhi side.
    5. Prices right now 3500psf and new launches are expected at >4000. ATS has paid around 10 cr per acres. You can imagine the rateS going in the area.
    6. Infrastructure projects takes time and dway investment is for long term.
    7. One commercial project is also launced in sector-114.
    8. There are more than 30 schools in dwarka. Some schools buses are already cover palam vihar.
    9. It is difficult to get >10% returns if youinvest at >4000. It may be dway or NH8 or GCX.
    10 beware of small builders like cosmos, era, sidhartha, spire. They may sell the whole project to some other companies.
    CommentQuote
  • Good One Psambher

    Btw .. all investors know the risks associated and have taken a long call
    Moreover ... litigations are part of day to day life in building infrastructure projects in India or anywhere else , but rarely do they get stalled
    CommentQuote
  • Such news items are actually good for Deway.

    -> They create awareness among buyers and buyers now ask questions to
    builders about dway progress.
    -> Many buyers defer there investment in this area
    -> This will make the builders lobby put more pressure on goverment to settle litigation and on construction agency to finish work on time.

    If there are no such news articles then everyone will believe what goverment says and will blindly invest along dway. And if all projects are sold out well, no-one ( builder, government ) will listen to buyers later..

    So its a good advise to all ppl -> Please dont book property along dway. Tell builder that you will book only once dway gets completed / litigation free.

    Though i've personally already invested on Dway, i fully support such articles and want them to continue coming..
    CommentQuote
  • Originally Posted by Ashish_Leo
    Does it really stinks now....LOLZZZ....Its times of india again....
    ePaper Lite - Times of India Publications

    One-Third Of E-Way Caught In Litigation

    Tanushree Roy Chowdhury TNN

    Gurgaon: The Noida land row may have triggered panic among buyers,driving many to seek judicial reprieve,but realtors are not dissuaded.Builders have shifted focus to the stretch connecting Dwarka with Manesar.And eight out of 10SMSs that choke our inbox every day,promise a dream home on the Dwarka e-way (also known as Northern Peripheral (NPR) Expressway ).But this area,too,has its own share of problems.
    One-third of this 18-km stretch is under litigation,which is why construction work has not even begun on this 5.5km stretch.This Rs 44-crore project was awarded to India Bulls,but it seems unlikely that the March 31,2012 deadline for completion of projects will be met.
    Only 12.5km of this 150-metre wide road is free of litigation and its being built as a six-lane expressway.
    I understand its not possible to develop anything without land,but why push the petitioners against the wall to sell their land at 10-15 % of market value The state came up with the plan to build the NPR expressway in 2006.We are almost at the end of 2011.If the government was pro-development,they would have purchased our land at market price and completed the project by now.Instead,they involved builders,who derived maximum gains by conveniently buying land all around expressway, said Rohit Gulati,a petitioner.He was forced to sell 2 acres for Rs 60 lakh per acre a pittance when compared to Rs 4 crore per acre,the current value of such plots in the area.
    Now,the matter is being heard at the Punjab and Haryana high court.Shailendra Jain,the petitioners counsel,alleged that the state has shifted the road alignment to benefit the builders.After notifying one alignment in the draft plan,the government changed the alignment in the final plan, he alleged.
    Nevertheless,experts have talked about a shift in the realty market.Noida Extension is no longer the focal point of realty development.Property developers are moving to other areas in the NCR.
    Unlike Noida where those affected are mainly end users,who purchased property due to affordability,in Gurgaon,majority buyers are investors.This is ascribed to the wide difference in realty prices in both the areas,which is contributed by the different density norms in Haryana and UP.
    Haryana has put a cap of 55 apartments in an acre;UP has allowed construction of more flats.Also,compared to UPs floor area ratio (FAR) of three,Haryana has an FAR of 1.75.Respective density,FAR and development norms of Gurgaon compared with Noida are unable to throw up necessary supply of affordable homes, said Ajay Rakheja,director (transactions),Colliers India Ltd,a property consultancy firm.
    Santosh Kumar,CEO (Operations ),Jones Lang La-Salle,India,said: While there will definitely be a greater demand for properties in Gurgaon,the realty market here does not have appropriate pricing.
    Real estate analyst Sonia Vaid said: Buyers need to be watchful of being exploited by fly-by-night developers,who seize every opportunity to lure customers by offering cheap prices.

    Thanks for sharing. Good to see these articles published in India sitting abroad.

    Well I believe tender went out because of lot of pressure from builders/agents. You can feel same pressure in this forum too LOL..!! :)

    God bless investors...!
    CommentQuote
  • Saw this news just now.. not sure how true and rotten is this?

    Dwarka realty hub also in legal tangle

    Tanushree Roy Chowdhury, TNN Aug 31, 2011, 02.02am IST


    GURGAON: The Noida land row may have triggered panic among buyers, driving many to seek judicial reprieve, but realtors are not dissuaded. Builders have shifted focus to the stretch connecting Dwarka with Manesar. And eight out of 10SMSs that choke our inbox every day, promise a 'dream home' on the Dwarka e-way (also known as Northern Peripheral (NPR) Expressway). But this area, too, has its own share of problems.One-third of this 18-km stretch is under litigation, which is why construction work has not even begun on this 5.5km stretch. This Rs 44-crore project was awarded to India Bulls, but it seems unlikely that the March 31, 2012 deadline for completion of projects will be met.Only 12.5km of this 150-metre wide road is free of litigation and it's being built as a six-lane expressway."I understand it's not possible to develop anything without land, but why push the petitioners against the wall to sell their land at 10-15% of market value? The state came up with the plan to build the NPR expressway in 2006. We are almost at the end of 2011. If the government was pro-development, they would have purchased our land at market price and completed the project by now. Instead, they involved builders, who derived maximum gains by conveniently buying land all around expressway," said Rohit Gulati, a petitioner. He was forced to sell 2 acres for Rs 60 lakh per acre — a pittance when compared to Rs 4 crore per acre.
    CommentQuote
  • Originally Posted by ajayrec
    Saw this news just now.. not sure how true and rotten is this?

    Dwarka realty hub also in legal tangle

    Tanushree Roy Chowdhury, TNN Aug 31, 2011, 02.02am IST


    GURGAON: The Noida land row may have triggered panic among buyers, driving many to seek judicial reprieve, but realtors are not dissuaded. Builders have shifted focus to the stretch connecting Dwarka with Manesar. And eight out of 10SMSs that choke our inbox every day, promise a 'dream home' on the Dwarka e-way (also known as Northern Peripheral (NPR) Expressway). But this area, too, has its own share of problems.One-third of this 18-km stretch is under litigation, which is why construction work has not even begun on this 5.5km stretch. This Rs 44-crore project was awarded to India Bulls, but it seems unlikely that the March 31, 2012 deadline for completion of projects will be met.Only 12.5km of this 150-metre wide road is free of litigation and it's being built as a six-lane expressway."I understand it's not possible to develop anything without land, but why push the petitioners against the wall to sell their land at 10-15% of market value? The state came up with the plan to build the NPR expressway in 2006. We are almost at the end of 2011. If the government was pro-development, they would have purchased our land at market price and completed the project by now. Instead, they involved builders, who derived maximum gains by conveniently buying land all around expressway," said Rohit Gulati, a petitioner. He was forced to sell 2 acres for Rs 60 lakh per acre — a pittance when compared to Rs 4 crore per acre.

    oops.. just saw a related thread. Sorry for re-post.
    CommentQuote
  • CommentQuote